The S&P 500 Weekly is showing another close in its recent weekly range. A multi week advance or decline should result from this consolidation. Until then, my outlook remains neutral.
The following daily charts for the Nasdaq 100 eMini futures and S&P 500 eMini futures are of important note for the H3 contracts.
1446 – 1391 is the opening range for ESH3 contract.
2714 – 2594 is the opening range for NQH3 contract.
The S&P 500 weekly is showing the a close above the middle keltner line. If strength continues to show, I expect a buy signal. My outlook is neutral to bullish.
The S&P 500 weekly closed in the same range as the last 3 weeks. Until I see a decisive close above or below the middle keltner line, my outlook is neutral.
The S&P 500 weekly is showing a possible bottom forming on the index. However, confirmation will not come until sustained price action above 1420 occurs. My outlook is neutral.
The S&P 500 Weekly is showing a potential bottom and may go on to retest 1468 if 1416 holds as support. My outlook is neutral.